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Aug 02 - 05:55 AM

GBP/USD - Helped To Intra-Day High By Meggitt Takeover News

By Rob Howard  —  Aug 02 - 04:00 AM
  • Cable's climb to 1.3929 has been influenced by news of a big M&A deal

  • Parker-Hannifin to buy Britain's Meggitt for GBP 6.3 billion nL4N2P919T

  • 1.3929 = intra-day high. 1.3888-1.3909 was Asia range (pre-Meggitt news)

  • The reinstatement of dividend payments by HSBC is also positive for GBP

  • HSBC plans to pay an interim dividend of seven cents a share nL1N2P905R

  • IMM speculators remained net GBP short in week ended July 27 nL1N2P90B3

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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